New York State Teachers Retirement System Has $11.26 Million Position in Texas Pacific Land Co. (NYSE:TPL)

New York State Teachers Retirement System lifted its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 6.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,731 shares of the financial services provider’s stock after acquiring an additional 731 shares during the period. New York State Teachers Retirement System owned 0.06% of Texas Pacific Land worth $11,264,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. abrdn plc lifted its position in shares of Texas Pacific Land by 15.0% during the 3rd quarter. abrdn plc now owns 4,565 shares of the financial services provider’s stock valued at $4,039,000 after acquiring an additional 597 shares during the period. Hunter Associates Investment Management LLC increased its stake in Texas Pacific Land by 5.7% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 5,964 shares of the financial services provider’s stock valued at $5,274,000 after purchasing an additional 320 shares in the last quarter. First Financial Bankshares Inc increased its stake in Texas Pacific Land by 2.2% during the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Texas Pacific Land by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 2,170 shares of the financial services provider’s stock valued at $1,919,000 after purchasing an additional 145 shares in the last quarter. Finally, Trueblood Wealth Management LLC bought a new stake in Texas Pacific Land during the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Trading Up 0.6 %

Shares of TPL stock opened at $1,172.62 on Friday. The firm has a market capitalization of $26.95 billion, a PE ratio of 60.32 and a beta of 1.56. The firm has a fifty day simple moving average of $949.96 and a two-hundred day simple moving average of $792.07. Texas Pacific Land Co. has a 12 month low of $467.62 and a 12 month high of $1,189.91.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.38). Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. The firm had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same quarter in the previous year, the company earned $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.40%. Texas Pacific Land’s payout ratio is 24.07%.

Wall Street Analyst Weigh In

Separately, BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.